27 Mar

Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

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Seneca Niagara Begins $40 Million Casino Beautification, Still No Payments to Cash-Strapped City

The Seneca Nation has announced it will begin work for a $40 million makeover of the Seneca Niagara Resort & Casino in the City of Niagara Falls, because it continues to withhold revenue-share re payments to the State of New York and communities that are local.

The Seneca Niagara Resort & Casino has announced its big revamp, but meanwhile the standoff involving the Seneca Nation and hawaii of New York shows no signs of progress, and the communities that host the tribe’s casinos are bearing the burden.

The Senecas stopped payments that are making a year ago. A sum that was then distributed between Albany, Buffalo, Niagara Falls and Salamanca, in exchange for the tribe’s exclusive right offer casino gaming in those cities under the terms of a 2002 compact, they were expected to contribute around $100 million a year to the state.

Nevertheless the tribe stopped payments that are making a 12 months ago. The 2002 contract expired in 2016, but it was stipulated within that it would roll over for another seven years, provided there were no objections from either party.

‘Defying Law and Logic’

But the Senecas argue that there was no particular clause within the agreement that said revenue-share payments would continue beyond 2016.

Their state has stated here are ‘no legitimacy to these claims,’ while the tribe’s assertion so it can ‘unilaterally end paying the continuing state share while continuing to enjoy the huge benefits of this compact has no basis in the compact, legislation or logic.’

Late year that is last New York State declared the Seneca country to be in breach of its compact and delivered a demand for legitimately binding arbitration, which, months later, has yet to get underway.

The Senecas are organizing ‘a flowing, landscaped entry boulevard’ to the Niagara Resort & Casino with ‘extensive landscaping, sculpture features. into the meantime’

‘We have very long seen our Niagara Territory, and this vantage point of Seneca Niagara in particular, as standing during the front door to Niagara Falls,’ said Seneca country President Todd Gates said in a declaration. ‘As many more people visit our resort and discover and rediscover the wonders of Niagara, we should make an impression that is immediate them.’

Niagara Falls into Disrepair

Nevertheless the actual City of Niagara Falls a community of around 50,000 people that struggles to compete for an level that is economic its more popular Canadian namesake is scrambling to balance its spending plan without the money it once relied on as a host community. The town has high crime rates, while around 60 percent of residents government assistance that is receive.

Mayor Paul Dyster recently announced Niagara Falls had been scaling back projects such as road improvements through lack of funds and wouldn’t rule out raising taxes.

Meanwhile, city councilman Chris Voccio told neighborhood radio station WBFO this week that while the Senecas landscape their entry boulevard, the council will have in order to make ‘some difficult decisions’ this budget season.

Kansas Horse Racing Revival Bill Dies into the Senate

A legislative push aimed at rebuilding Kansas’ defunct horse and dog racing industries has dropped at the first fence.

The Kansas Senate in Topeka missed a chance to ‘right the incorrect,’ in the terms of Senator Bruce Givens, whose bill sought to revive the state’s extinct horseracing industry. (Image: Kansas Public Radio)

SB 427 sought to cut tax rates for racetracks, which supporters argue have been so punitive that they will have killed off the once-thriving thoroughbred and quarter horseracing industry in the state.

But the bill was narrowly defeated within the Senate by 20-17, as opposing lawmakers argued the measure would break existing agreements between the state and its four casino operators.

The number of racetracks operating today in Kansas is precisely zero despite its racing heritage. Its famous venues like Eureka Downs and Anthony Downs are shuttered, or in the case that is latter demolished. Horse breeders and owners are forced to journey to other states to compete in races.

Righting Wrongs

SB 427 would have slashed the 40 percent cut the racetracks paid to the state when they were operational to 22 %, on the basis of the amount presently paid by Kansas’ four ‘state owned’ gambling enterprises.

‘It creates the ability to, what I love to call, right the incorrect. The incorrect was when the Legislature raised the tax share from 22 % to 40 per cent,’ the bill’s sponsor, Senator Bruce Givens (R-Eldorado), told the Senate, including that he believed the bill would create 4,000 jobs.

Senate Minority Leader Anthony Hensley (D-Topeka) agreed. It was said by her would revive a business that ‘really requires our assistance.’

‘We need to give the racetracks a chance that is second’ she said.

‘Masochistic’ Litigation

But opponents cited a 2016 viewpoint from Kansas AG Derek Schmidt warning that the state’s casinos would file suit against likely the state for breach of agreement and need the reimbursement of millions in revenue-share re payments since their establishment in 2008.

There exists a breach of agreement. There’s no concern those contracts were meant to be punitive,’ said Sen. Ty Masterson, R-Andover. ‘It’s just like we now have a desire that is masochistic protracted litigation. I really don’t understand what we’re doing.’

The Kansas casino sector is nominally ‘state-owned’ but the fact that the casinos would sue the state to protect their interests illustrates the reality which they are anything but.

The bill attempted to address this presssing problem by allowing racetrack owners to submit a letter of credit promising to repay the casinos. Racetrack owners would be refunded by then the state, which will return 50 % of the racetracks’ revenue-share re payments until these were quits.

But also for Senator Vicki Schmidt (R-Topeka), this ended up being too convoluted and the risk too high. She demanded to learn why the Senate would gamble on undermining a casino sector that had paid $513 million to state coffers over the previous decade.

Nevada Casinos Top $1 Billion in March, Sportsbooks Set Basketball Handle Record

Nevada gambling enterprises collectively won significantly more than $1 billion in March, which marks the industry’s third month that is consecutive the celebratory threshold.

Fans again stuffed the Westgate’s International Theater for March Madness, as sportsbooks around the continuing state assisted Nevada casinos again make an impression on $1 billion. (Image: Chase Stevens/Las Vegas Review-Journal)

Statewide, gross gaming revenue (GGR) totaled $1.024 billion, a 3.4 percent premium on March 2017. Casinos are now 2.85 percent in front of where they were this time last 12 months through the very first three months in 2018.

The Strip had been chiefly responsible for the revenue surge, as GGR came in 9.1 percent higher at almost $574 million. Baccarat was the force that is driving as casinos won $114.8 million on the table game at a 14 percent win rate.

Penny slots accounted for the lion’s share of GGR statewide, with the machines winning $283.3 million. Baccarat was next at $117.2 million, then blackjack ($95.2 million), craps and sports operations (both at $34.1 million), and roulette ($29 million).

Nevada Gaming Control Board Senior Research Analyst Michael Lawton pointed away that January, February, and March’s $1 billion hauls are the first time since 2008 that Silver State casinos have surpassed the 10-digit plateau in three consecutive months.

March 2018 benefited from A saturday that is extra compared the month in 2017. While gaming was strong, the Las Vegas Convention and Visitors Authority (LVCVA) reported that visitor volume totaled 3.75 million, a nearly one percent drop.

Sportsbooks Prosper

Combined with the healthier March gaming report includes revenues from sportsbook operations. And month that is last oddsmakers scored a slam dunk on basketball.

A record $436.5 million was bet on the sport, the most coming on university’s NCAA March Madness. Sportsbooks reported a rate that is win of percent, meaning hoops generated significantly more than $38 million for your house.

While the $436.5 million handle is just a new high for baseball, oddsmakers actually won eight percent less than in March 2017 if they won over $41.2 million for a 9.6 % win rate.

March 2018 was the seventh straight March that posted a brand new record handle for basketball, since the popularity of gambling on the NCAA men’s basketball competition continues to increase.

Viva Strip

Perhaps the news that is best into the release is that Strip revenues have actually reversed course after four consecutive monthly declines following a October 1 massacre. Strong baccarat play shows that site visitors from Asian countries are returning to Las Vegas.

GGR along the Strip reduced from through January october. a primary concern that is financial determining how long Asian visitors, which are critical to your main drag, would remain away.

Caesars CEO Mark Frissora said in October that ‘people in Asia have become respectful of the deaths,’ and included regarding a mourning period, ‘I’ve heard so it’s sometimes a time period of three, four months.’

Baccarat, the most game that is popular people from Asian http://1xbets-giris.top/ countries, saw win amounts fall in each of the four months, the largest arriving December when the table game’s revenues retracted 30 percent.

But Frissora being told the mourning period would last as much as four months seems accurate, as baccarat play has posted gains that are big February and March (respectively 83 percent and 115 %). To date, GGR on the Strip is up 3.3 percent year.

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